Toyota Raises Outlook as China Sales Tumble

TOKYO—Toyota Motor Corp. on Monday raised its earnings forecast for its fiscal year amid a third-quarter profit that tripled on a weaker yen and as U.S. sales gains offset a drop in China.

Japan's top auto maker by sales lifted its profit forecast 2.6% to ¥780 billion ($9.7 billion) from ¥760 billion for the fiscal year ending March 31. The brighter view reflects Toyota's greater resilience in China, a weaker yen, and reduced...